Ridiculousness is in the eye of the beholder. Probably the biggest red flag was that there was no mention of what was supposedly going to be annihilated—and yes, it does make a difference.
The supposedly formal definition tells me very little—because “short” is not defined—and because f(X) is not a specified function. Saying that it evaluates to something positive is not sufficient to be useful or meaningful.
Fast enough that none of the other intelligences in Earth can copy its strengths or produce countermeasures sufficient to stand a chance in opposing it.
Yes—though it is worth noting that if Google wins, we may have passed that point without knowing it back in 1998 sometime.